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Tencent Music completes acquisition of Ximalaya, releases exclusive audio content rights in accordance with regulatory requirements
Caixin.com On the afternoon of May 22, Tencent (00700.HK), Tencent Music Entertainment Group (TME.NYSE/01698.HK, hereinafter referred to as "Tencent Music"), and Ximalaya simultaneously announced that, in accordance with regulatory requirements, they are terminating the exclusive online audio content licensing agreements. During pre-market trading on May 22, Tencent Music's U.S. stock fell more than 4%.
Earlier, on May 18, Tencent Music's management announced in an internal letter that the acquisition deal with Ximalaya had been officially completed.
The deal was announced publicly in June 2025, with the consideration including $1.26 billion in cash, and Tencent Music also issued a certain number of shares to Ximalaya. (See Caixin.com report "Tencent Music acquires Ximalaya for $1.26 billion; Ximalaya's valuation once reached $4.3 billion")